₦airaland Forum

Daura Economics!

Abeg they should park well joor! Who dem forcasting don help? They scope us with the biggest economy tag in the past while the high percentage of Nigerians lives below a dollar daily.

Like a prof once said, our leaders have succeeded in making us hate the world bank/IMF... We now blame them for our own failures. Those guys are not the devil... Our leaders are! These economic institutions are simply doing their job. We hail the president for his foreign trips cos we feel he will lure foreign investors to Nigeria but we despise or wave aside every thing the world bank/IMF says or forecast. But the truth is the foreign investors we are trying to lure rely on the analysis of these organizations.

Just because we have refused to devalue our naira. We dnt need IMF policies. To hell with IMF policy

[size=14pt]Here we gave evidence that Nigeria is improving under Buhari.
We are finally reaping the benefits of Change!
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https://i.imgur.com/djLfDH2.jpg?1

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https://i.imgur.com/gvYryst.jpg?1

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https://i.imgur.com/e69nGe8.jpg?1

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CHANGE !!![/size]

https://i.imgur.com/wh1z7Nv.gif?1

AceRoyal:
Sai Baba

guy if I hold u 4 where u dey Holla say baba 4 here so ehhhh... u go know say I dey vex like dis...
Nor try am again ooooo.

MetaHuman:
Hrhehe

Mumu IMF.. If you like, cut it to zero.
We won't devalue out naira.. Babangida that listened to you mor0ns how did it help Nigerians.

Who is suffering by not devaluing? Its certainly not them.

You foreign exchange earning are dropping and you say you wont allow your currency to depreciate or devalue? Are you making sense. Does the IMF have to tell you the obvious?

The devaluation helped Nigerians well.

Industries that were dying started reviving and the agricultutral sector had a revival. Prior to the devaluation it was cheaper to import food than to produce it locally. Devaluation changed that.

Also, the export of agricultural produce had a renaissance especially cocoa.

The primary problem was that Babangida was not sincere and very excessively corrupt.

He was reckless with government spending and this led to huge budget deficits that were inflationary and caused the naira to continue loosing value. T

You can see that the IMF advised Buhari to watch the deficit.

grandstar:
Who is suffering by not devaluing? Its certainly not them.

You foreign exchange earning are dropping and you say you wont allow your currency to depreciate or devalue? Are you making sense. Does the IMF have to tell you the obvious?

The devaluation helped Nigerians well.

Industries that were dying started reviving and the agricultutral sector had a revival. Prior to the devaluation it was cheaper to import food than to produce it locally. Devaluation changed that.

Also, the export of agricultural produce had a renaissance especially cocoa.

The primary problem was that Babangida was not sincere and very excessively corrupt.

He was reckless with government spending and this led to huge budget deficits that were inflationary and caused the naira to continue loosing value. T

You can see that the IMF advised Buhari to watch the deficit.

story..

Its a simple thing that even the dumbest person knows.
Devaluing a currency in a monolitic economy that is import dependents is a dumb move..
Plus imf is nobody's friend except the western powers that wants African economy to keep crumbling in order to maintain their dumping ground.

We will consider devaluation when we start flooding western countries with Nigerian products instead of the other way around.

IMF are is a corrupt world financial institution that only work for the intrest of western countries by deliberately put poor countries into debt they cannot repay.so that u can sell their assest and resources to western companies . This is what I call economic slavery.

The whole real why they saying BS like this to nigeria is becos nigeria have refuse to bow to the pressure of devaluation of the naira. They will do everything possible to destabilising nigeria's economy

MetaHuman:
story..

Its a simple thing that even the dumbest person knows.
Devaluing a currency in a monolitic economy that is import dependents is a dumb move..
Plus imf is nobody's friend except the western powers that wants African economy to keep crumbling in order to maintain their dumping ground.

We will consider devaluation when we start flooding western countries with Nigerian products instead of the other way around.

You can see the horror of not devaluing right in front of you and you are wailing using the word monolithic.

Devaluation is not only done to spur exports.

As you can see, by not devaluing, there is now artificial scarcity of forex which has led to companies collapsing and leaving the economy in distress.

It is never the IMF or the government that compels you to allow your currency to depreciate, it is simply market forces.

If N1b is chasing $1b, the rate will probably be 1 to 1.

What of if forex inflows drops by 50% and its now N1B chasing $500m, will it still be 1 to 1?

If you are to devalue and you refuse to, the parrallel market will bear the grip of the devaluation. Water will always find its level.

I have written the country off since Buhari refused to devalue.

Expect the naira to touch 400 to 1 by the end of the year if this expansionary budget is passed. Or do you know that expansionary budget leads top a depreciation of a currency because of the increase of money supply? I am sure the CBN governor, Buhari does not know that.

The economy is doomed.

grandstar:
You can see the horror of not devaluing right in front of you and you are wailing using the word monolithic.

Devaluation is not only done to spur exports.

As you can see, by not devaluing, there is now artificial scarcity of forex which has led to companies collapsing and leaving the economy in distress.

It is never the IMF or the government that compels you to allow your currency to depreciate, it is simply market forces.

If N1b is chasing $1b, the rate will probably be 1 to 1.

What of if forex inflows drops by 50% and its now N1B chasing $500m, will it still be 1 to 1?

If you are to devalue and you refuse to, the parrallel market will bear the grip of the devaluation. Water will always find its level.

I have written the country off since Buhari refused to devalue.

Expect the naira to touch 400 to 1 by the end of the year if this expansionary budget is passed. Or do you know that expansionary budget leads top a depreciation of a currency because of the increase of money supply? I am sure the CBN governor, Buhari does not know that.

The economy is doomed.

you also didn't consider the pain of permanent inflation.. The forex will balance again once the price of crude icreases or when we export more stuff from Nigeria instead of importing.

Instead of clamouring for permanent solution you think devlauing naira everytime there is fall in crude oil prices is the way to go. Ask yourself, has devaluing ever helped nigeria just once, if it has never worked what makes you think it would work now?

Once we devlaue again, then when there is another meltdown, we will devalue again till naira reaches 10000 to a dollar like the zimbabwean dollars.
China, Japan other countries that gained so much from devaluation made sure they are exporting nations before they consider devaluation, let's emulate them not Zimbabwe or Greece.

I still stand with buhari here, devaluation is never gonna help us in anyway, it just a way of making inflation permanent.

Kyase:
mitcheeeeeew nonsense.
who e been dey help. because naija refused to devalue naira ne?
intact god(if e dey) punish dem.
and as for buhari better start work oooooo.
wailers dey top league here, we dey zombies dey hiding ooo, better come back start work

but imf aint telling u to devalue naira nw, abi am I blind or cant I read n comprehend again?
show me where imf said nigeria shud devalue?

hemartins:
Cutting means no hope of growing
But.....
We will rise again
Above the sorrows and the pain
We wise rise about economic crises
Yes we would

I believe

Nigeria will rise again.

amen oo let's keep on waiting till fowl begin grow teeth abi?

MetaHuman:
Hrhehe

Mumu IMF.. If you like, cut it to zero.
We won't devalue our naira.. Babangida that listened to you mor0ns how did it help Nigerians.

yellowbar thinking, na only devalue dem sabi.
small thing, we wont devalue. abeg what is d opposite of devalue?
na revalue, tell buhari to revalue our naira.

MetaHuman:
story..

Its a simple thing that even the dumbest person knows.
Devaluing a currency in a monolitic economy that is import dependents is a dumb move..
Plus imf is nobody's friend except the western powers that wants African economy to keep crumbling in order to maintain their dumping ground.

We will consider devaluation when we start flooding western countries with Nigerian products instead of the other way around.

Lol!
While we are at it, going to Ghana will require a VISA from July.
We have not dominated West African markets, you wan flood western countries...
Amala and Ewedu economics.
Bro, you must crawl (electricity, roads, housing) before you run (exports). You must dominate your environment before going out of it; we can barely feed ourselves

yaki84:
but imf aint telling u to devalue naira nw, abi am I blind or cant I read n comprehend again?
show me where imf said nigeria shud devalue?

not on this post oga, or na today you start to dey use internet?

mykl01:
Lol!
While we are at it, going to Ghana will require a VISA from July.
We have not dominated West African markets, you wan flood western countries...
Amala and Ewedu economics.
Bro, you must crawl (electricity, roads, housing) before you run (exports). You must dominate your environment before going out of it; we can barely feed ourselves

akpu talk, akpu brain.
Do you need visa to export stuff?
Nigeria exports oil, cocoa and beans to western countries, do they need visas to do all that?

Bro, Diversification is the crawling, while devaluation is the running.

China crawled before they run. Zimbabwe and Greece that ran before they crawl, we all saw how they fell.. Nigeria has been running, now we are about to fall, time to use our brain and go back to basics.